Frequently Asked Questions
What is the minimum gift needed to establish an advised fund?
With the exception of the Supporting Organization ($1,000,000) and the Youth Philanthropy Program ($2,500), you can establish any of our charitable funds with a minimum contribution of $5,000.
Do I have to make grants to organizations in Nevada only?
No. Through an advised fund, you can make grant recommendations to any 501(c)(3) public charity in the United States. Sometimes grants can even be made internationally. There is also no limit to the amount of grants that you can recommend.
Who can recommend grants from an advised fund?
Anyone listed as advisor on the contribution form can recommend grants from the fund. Additional advisors may be added later by the donor to the fund.
Can grants from my advised fund be made anonymously?
Yes. In fact, donors can make their decision as to which grants should be made anonymously at the time they submit their grant recommendations to the Foundation.
Can I name the fund after my family?
Yes. Donors name the fund when the fund is established.
What are the differences between an advised fund at the Foundation and one at a commercially sponsored gift fund?
Although these products are similar in function, the Nevada Community Foundation offers several advantages over commercially sponsored gift funds. First, the Foundation has 20 years of experience in meeting the needs of our communities. This means that the Foundation is extremely knowledgeable on local charitable programs, nonprofit organizations, and local issues affecting our communities. Through the Foundation's philanthropic services team and its educational programs, donors have access to this wealth of information to help them with their charitable interests and grants. Second, the Foundation's investment program has hired the best investment managers and is broadly diversified in asset classes and investment styles. Third, philanthropy is the Foundation's only business; consequently, its sole focus is on making a difference in our community and with donors.
Do I have to make a grant each year from my fund?
There is no amount that must be distributed annually from your fund.
What is a "grant recommendation form?"
A grant recommendation form is used to recommend grants from your fund(s) established at the Foundation. Donors can recommend grants at any time during the year, and grants can be made locally, regionally, nationally or internationally.
Are my grant recommendations limited to a certain amount?
Flexibility depends on the type of fund and its original granting criteria determined when it is first created. A donor can recommend grants based on an overall percentage of the fund's fair market value (applying a grant payout/spending policy) or from a larger proportion of the fund's assets. There is no minimum grant amount.
How quickly are my grants sent out?
Grant requests for U.S. organizations follow the Foundation's grant processing schedule, which is the 15th and 30th of each month. Some requests, such as international grants, take longer to process. Donors may submit their grant requests via phone or in writing via mail, fax, or email.
I recently requested that a grant be made from my Donor Advised Fund. How can I know if the check has been sent?
Within a week after we have received your grant request, the Foundation will send you a letter (along with your original Grant Recommendation Form) confirming receipt of your grant request. This allows you the opportunity to take one final look at your request and to notify us if you have any changes.
How do I get a copy of my fund statement?
You will receive a fund statement on a quarterly basis, usually about 40 days following the end of each quarter. You can also call the Community Foundation's Development Department at 702.892.2326 for information on your fund's activity (recent contributions made to your fund, grants made from your fund, current fund balance, etc.).
Can you help me find effective charities to support?
Our professional philanthropic services staff is an invaluable resource to you, and they are available as needed. They can work with you in identifying effective organizations involved in the causes you care about.
How will the fund be invested if I don't suggest an investment pool?
The fund will be invested in accordance with the overall investment policy of the Nevada Community Foundation. Historically, this has meant that endowed funds will be maintained in the Balanced Pool and non-endowed funds will be maintained in a Money Market Fund.
Can I choose more than one pool?
Yes. Generally, we open a new fund for each investment selection.
What is the grant payout or spending policy?
It is a formula for grant-making from an endowment that is based on a designated percentage of the fund's fair market value. The Foundation's current spending policy uses a calculation that distributes 4% to 5% annually of an average twelve-quarter market value. Based on historic stock and bond market performance, this should allow the endowment fund to distribute grants in inflation-adjusted amounts in perpetuity.
Contact the Nevada Community Foundation for any other questions you may have at 702.892.2326.